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Author Archives: enterpriseam admin
Rod al-Farag Axis Bridge the widest suspension bridge in the world
Egypt’s Rod Al Farag Axis Bridge will be listed in the Guinness Book of World Records as the widest suspension bridge in the world, Egypt Independent reports. At 64.8 meters, it just has the edge over Canada’s 64.2 meter suspension bridge, according to Al-Shorouk. Comprising five connected bridges, Rod Al Farag, which is due to […]
The Market Yesterday
EGP / USD CBE market average: Buy 17.12 | Sell 17.22 EGP / USD at CIB: Buy 17.10 | Sell 17.20 EGP / USD at NBE: Buy 17.12 | Sell 17.22 EGX30 (Tuesday): 14,920 (+1.0%) Turnover: EGP 668 mn (21% below the 90-day average) EGX 30 year-to-date: +14.5% THE MARKET ON TUESDAY: The EGX30 ended […]
May: 50 Egyptian companies are set to visit Libya to discuss trade, investment and reconstruction. May: An IMF delegation will be in town to conduct its final review of the reform program ahead of the disbursement of the sixth and final tranche of Egypt’s USD 12 bn IMF loan. 04 May (Saturday): An administrative court […]
What we’re tracking on 24 April 2019
Almost 90% of voters backed the constitutional amendments in this week’s three-day referendum, the head of the National Elections Authority announced yesterday. Just over 44% of some 61 mn eligible voters turned out. We have more in this morning’s Speed Round + Last Night’s Talk Shows. It’s the second and final day for the Arab […]
Referendum results, turnout, women quota all get airtime on Egypt’s airwaves
Yesterday’s referendum results — which we recap in full in this morning's Speed Round, below — were the topic of the night on the nation’s airwaves. Al Hayah Al Youm broadcast National Elections Authority Chairman Lashin Ibrahim’s final announcement (watch, runtime: 2:31). Voter turnout rate was higher than in both the 2012 (32.9%) and 2014 […]
Egypt votes in favor of amending the constitution
We have a new constitution: Some 88.83% of participating voters cast ballots in favor of amending the constitution, chairman of the National Elections Authority Lashin Ibrahim announced at a press conference yesterday evening. The turnout rate was one of the highest in the past decade, he said, with 44.3% of the 61 mn eligible people […]
Moody’s upgrades credit ratings of five Egyptian banks
Moody’s upgrades credit ratings of five local banks, with stable outlook: Moody’s has upgraded our friends at CIB along with Banque du Caire, the National Bank of Egypt, Banque Misr, and Bank of Alexandria’s credit ratings, the agency said in a statement. The first four banks saw their long-term local-currency deposit ratings improve to B2 […]
Sawari Ventures to invest c.USD 70 mn in North Africa within four years
INVESTMENT WATCH- Sawari Ventures to deploy c.USD 70 mn across North Africa over four years: Egyptian venture capital firm Sawari Ventures plans to invest close to USD 70 mn in high-growth tech and tech-enabled companies in Egypt, Tunisia and Morocco over the next four years, partner Wael Amin tells Disrupt Africa. Sawari raised its latest […]